Pandora is a highly successful international jewelry company founded in 1982. The brand is well-known for its commitment to craftsmanship, ethical sourcing of materials, and strong emphasis on storytelling and personal expression.
Pandora
Industry Retail
Geography China
Impact 35% organic growth in China
Lynxeye helped Pandora unlock re-energized growth by uncovering insights about the Chinese market and identifying local adaptations of its global brand strategy.
Challenge
Pandora had entered the Chinese market and enjoyed satisfactory initial growth, but five years in, management had noticed a break-point in business and visits to owned stores. Online sales were only growing at par with the competition, not exceeding the drop in stores. There was a need to re-energize growth in China.
The Pandora team needed to understand the brand’s current position in the market, how it got there and if it’s optimal. It also wanted guidance on whether the global brand strategy was applicable to the Chinese market and which, if any, local adaptations were necessary.
Response
Lynxeye provided actionable insights and a clear direction for how to regain momentum in China. We also identified high potential initiatives for short term improvement of growth, in areas such as communication, omni-shopping experience, assortment and marketing mix.
Lynxeye found that Pandora’s global brand strategy was highly relevant for the Chinese market, and defined how it could be optimized to yield a higher growth. Local brand execution was evaluated to understand what will drive the brand into the desired position.
Deliverables
- Market and consumer insights
- Local brand strategy adaptation
- Prioritized local focus initiatives
- Quick wins for improved growth
Impact
Following the repositioning, Pandora experienced sell-out growth in China of 43% in Q1 2021 over Q1 2020, and organic growth of 35%.
